ShoreTel, Inc. (SHOR) Short Interest Down 26.7% in January
ShoreTel, Inc. (NASDAQ:SHOR) was the target of a large decrease in short interest in January. As of January 31st, there was short interest totalling 697,574 shares, a decrease of 26.7% from the January 13th total of 952,029 shares. Approximately 1.1% of the shares of the company are sold short. Based on an average daily trading volume, of 804,164 shares, the short-interest ratio is currently 0.9 days.
A number of institutional investors have recently bought and sold shares of SHOR. Airain ltd purchased a new position in ShoreTel during the third quarter worth approximately $257,000. Bank of New York Mellon Corp increased its position in ShoreTel by 5.4% in the third quarter. Bank of New York Mellon Corp now owns 459,735 shares of the company’s stock worth $3,677,000 after buying an additional 23,657 shares during the period. Geduld E E purchased a new position in ShoreTel during the third quarter worth approximately $240,000. FNY Managed Accounts LLC purchased a new position in ShoreTel during the third quarter worth approximately $492,000. Finally, Fox Run Management L.L.C. purchased a new position in ShoreTel during the third quarter worth approximately $167,000. Institutional investors and hedge funds own 88.16% of the company’s stock.
A number of equities analysts have recently issued reports on SHOR shares. Zacks Investment Research downgraded ShoreTel from a “hold” rating to a “sell” rating in a research note on Wednesday, November 2nd. Craig Hallum downgraded ShoreTel from a “buy” rating to a “hold” rating in a research note on Friday, January 27th. Finally, William Blair reissued a “buy” rating on shares of ShoreTel in a research note on Monday, October 31st.
ShoreTel (NASDAQ:SHOR) opened at 6.85 on Friday. ShoreTel has a 52 week low of $5.83 and a 52 week high of $8.56. The stock’s market capitalization is $467.14 million. The stock’s 50 day moving average price is $7.12 and its 200-day moving average price is $7.43.
ShoreTel (NASDAQ:SHOR) last posted its quarterly earnings results on Thursday, January 26th. The company reported $0.03 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.02) by $0.05. The business earned $88 million during the quarter, compared to the consensus estimate of $86.23 million. ShoreTel had a negative return on equity of 3.29% and a negative net margin of 5.08%. The company’s revenue for the quarter was down 2.7% compared to the same quarter last year. During the same period last year, the firm earned $0.10 earnings per share. Equities research analysts expect that ShoreTel will post $0.03 earnings per share for the current year.
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ShoreTel Company Profile
ShoreTel, Inc is a provider of business communication solutions. The Company is engaged in the design, development, marketing and sale of business communication solutions. The Company is focused on the small and medium sized businesses seeking a unified communications (UC) solution allowing them to communicate anytime, anyplace and through any device they chose.
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